Fed's Plosser: October rate cut was close call, would take GDP growth of less than 1.0% for him to support another rate cut
(NYT)**
Plosser also said that he would not be surprised to see GDP growth of between 1.0%-1.5% in Q4.
Morgan Stanley could become the next bank to own up to further sub-prime losses in light of the continued stagnation of the
asset-backed commercial paper market (Telegraph)
Fitch fears put bond insurance sector in doubt (Times)
Fitch Ratings threatened to cut insurer's AAA ratings after a review of their USD 2,500bln exposure to the global market in CDOs.
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